Overcoming Setbacks and Finding Hope

The Hard Truth

If you missed out on my 1st newsletter, click here.

Welcome to my 2nd newsletter. After college, I was determined not to take a regular job. I wanted to grow my business, so I planned to start an online store and spent a lakh on a developer to build my e-commerce website. I was convinced that once the site was ready, customers would come rushing in, especially during the lockdown.

I waited for months, doing nothing and wasting my time. Eight months later, the developer still hadn’t finished the website and kept making excuses. My business came to a halt, I stopped making sales, and my finances were in a terrible state.

The fault wasn’t just with the developer—it was with me too. My desire for everything to be perfect led me to keep making changes and delays. I ended up losing almost 50k and had nothing to show for it. This was a crushing blow.

To make things worse, I registered my business as a private limited company, following advice from an online auditing firm that claimed it was the best option. Only after registering did I learn about additional requirements, like opening a current account within 90 days. The firm didn’t tell me about these things beforehand and tried to upsell their services afterwards. This added even more stress and made me feel trapped.

Family Struggles

During this time, the strain didn’t just affect my business—it also took a toll on my family life. I found myself constantly fighting with my mom and dad. I wasn’t making them happy, and they were worried about me.

My failures and stress spilt over into our home, creating tension and disappointment. It hurt to see how my struggles impacted the people I love.

Lessons Learned:

✔ Stay Active: Don’t stop working on your business while waiting for something new. Keep making sales and engaging with customers.

✔ Use Time Wisely: Don’t waste time waiting. Use it to learn and improve your business.

✔ Be Careful with Money: Don’t put all your money into one project. Have a backup plan.

✔ Don’t Wait for Perfection: Waiting for everything to be perfect can be a huge mistake. It’s better to launch and improve as you go.

✔ Understand Business Structures: Know the details and requirements of any business structure before you commit.

✔ Build a Solid Marketing Plan: Just building a product or website doesn’t guarantee sales. You need a strong marketing and sales plan to attract and retain customers.

✔ Protect Family Relationships: Don’t let business struggles affect your family. Communication and support are key.